Mines dept claims 15pc hike in revenue collection

The Khyber Pakhtunkhwa Mines and Mineral Development department has increased its revenue collection by more than 150 per cent over the past two years. According to documents available with Dawn the mines and minerals department in 2018-19 had collected Rs2.1 billion, however, in 2019-20 its revenue collection soared to Rs3.2 billion and it touched Rs5.2 billion in the last fiscal. “This is an increase of over 150 per cent over a period of two years,” an official told Dawn. The official said that during the same period, the department issued…

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Badak plant and the future of Indonesia’s LNG industry

Once known as the world’s largest liquefied natural gas (LNG) exporting country, Indonesia is transforming its LNG industry from its previous service as liquefaction plants only to the development of LNG receiving/regasification terminals or units. More than that, LNG products, which used to be entirely exported, are now absorbed mostly by domestic industries. There are three LNG liquefaction plants currently operating in the country: Badak in Bontang, East Kalimantan, Tangguh in West Papua, and Donggi-Senoro in Central Sulawesi. Badak used to be the largest LNG liquefaction plant in the world,…

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China frictions steer electric automakers away from rare earth magnets

The metals in the magnets are actually abundant, but can be dirty and difficult to produce. China has grown to dominate production, and with demand for the magnets on the rise for all forms of renewable energy, analysts say a genuine shortage may lie ahead. Some auto firms have been looking to replace rare earths for years. Now manufacturers amounting to nearly half global sales say they are limiting their use, a Reuters analysis found. Automakers in the West say they are concerned not just about securing supply, but also…

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Economy in recovery phase

Signs of recovery are gradually appearing. Exports grew around 18% in dollar value while imports rose around 26%. The imports outpacing exports resulted in a ballooning trade deficit of $31 billion. This is usual recovery story in a developing economy where imports normally exceed exports. Bourgeoning remittances of $29.4 billion played a major role in bridging the trade gap in FY21. However, debt servicing requirements were fulfilled through multilateral financing and commercial borrowing fetched through Eurobonds and Sukuk. Both exports and imports went down in FY19 and FY20. In those…

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Byco sees doubling of gross refining margin by 2025

The gross refining margin of Byco Petroleum — a vertically integrated energy firm with its own floating jetty, refinery and oil marketing arm — is expected to double from $3 per barrel to $6 once it completes the ongoing upgrade process by 2025, according to company chairman Mohammad Wasi Khan. Speaking to a group of journalists at the company headquarters on Friday, Mr Khan said Byco is adding as many as 14 plants to its processing facilities, which will turn 90 per cent of the refinery’s output into value-added, high-margin…

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Mismanagement, fuel shortage blamed for outages

Fuel shortages caused by inadequate supply arrangements and forced outages are leading to serious power supply constraints as consumers suffer in extreme humid conditions across the country. A senior official of the Power Division conceded that power companies had been compelled by unavoidable circumstances to apply forced power cuts ranging between 1,000MW and 2,000MW in peak hours. This does not include revenue-based loadshedding of 2,500-4,000MW depending on how the relevant authorities are technically able to park shortages. “We are not getting LNG (liquefied natural gas) supplies against firm demand and…

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Industry reacts to gas supply diversion to power sector

 Suspension of gas supply to general industry from Saturday afternoon by Sui Northern Gas Pipelines Limited (SNGPL) to divert supply to power plants to meet the increasing demand threatens production and supply of various goods ahead of Eidul Azha, say representatives of the industry. The situation has forced the manufacturing sector to close mills by sending workers on leave, they say. “Suspending gas supplies all of a sudden on verbal orders and without any prior notice is sheer high-handedness with the industry, especially those engaged in food-related businesses. We strongly…

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Transport sector complains about govt entities’ hurdles

The transport sector, which relies on Compressed Natural Gas (CNG), has complained to the prime minister that it is facing unfair treatment and roadblocks from various government institutions and entities in matters of pricing, supplies, imports and pipeline capacity for transportation of liquefied natural gas (LNG). In a detailed representation, the copies of which have been shared with the Ministry of Energy and the Oil and Gas Regulatory Authority (Ogra) and the Universal Gas Distribution Company (UGDC) has explained the ‘impediments against private sector role in gas supply’ since its…

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Descon leads manpower export from Pakistan

LAHORE – Pakistan achieved the honor of becoming the leader in manpower export in the region, surpassing major players, India and Bangladesh in 2020. Over 224,000 Pakistanis went overseas for working in both white and blue collared roles. Descon Engineering Limited has played a major role in Pakistan achieving this feat, by being the highest manpower exporting entity, not only in 2020, but also over the previous 3 years, as per the data shared by the Bureau of Emigration and Overseas Employment (OEP). With a total of 4,582 promoters nation-…

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China goes full throttle on green energy transition to achieve carbon neutrality

China is the world’s largest producer and consumer of energy, with fossil fuels making up about 85 per cent of the energy structure. China has vowed to attain carbon dioxide emissions peak before 2030 and achieve carbon neutrality before 2060. The country is going full throttle to develop new energy resources and increase their proportion in primary energy consumption nationwide, which are expected to lighten the burden on the environment and ecosystems and provide practical solutions to mitigating soil, surface water and air pollutions, said Lei Yizhu, head of Guizhou’s…

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